Unnamed: 0
int64 | paragraph
string | asset
int64 | economic_flows
int64 | none
int64 | json_impact_channel
string | impact_directionality
string |
|---|---|---|---|---|---|---|
1,386
|
UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549FORM 8-KCURRENT REPORTPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934Date of Report (Date of Earliest Event Reported):March 12, 2010Validus Holdings, Ltd.__________________________________________(Exact name of registrant as specified in its charter)Bermuda001-3360698-0501001_____________________(State or other jurisdiction_____________(Commission______________(I.R.S. Employerof incorporation)File Number)Identification No.)29 Richmond Road, Pembroke, BermudaHM08_________________________________(Address of principal executive offices)___________(Zip Code)Registrant’s telephone number, including area code:(441) 278-9000Not Applicable______________________________________________Former name or former address, if changed since last reportCheck the appropriate box below if the -K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))Top of the FormItem 2.02 Results of Operations and Financial Condition.On March 12, 2010, Validus Holdings, Ltd. issued a press release disclosing its initial estimate of losses from the Chilean earthquake and European Windstorm Xynthia. The full text of the press release is being furnished as Exhibit 99.1 to this Current Report on -K and is incorporated herein by reference.The information in this Current Report on -K, including the information set forth in Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.Item 9.01 Financial Statements and Exhibits.Exhibit No. 99.1 Press release ("VALIDUS HOLDINGS, LTD. PROVIDES INITIAL ESTIMATE OF LOSSES FROM THE CHILEAN EARTHQUAKE AND EUROPEAN WINDSTORM XYNTHIA") dated March 12, 2010.Top of the FormSIGNATURESPursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.Validus Holdings, Ltd.March 15, 2010By:/s/ Robert F. KuzloskiName: Robert F. KuzloskiTitle: Senior Vice President and Assistant General CounselTop of the FormExhibit IndexExhibit No.Description99.1Press release ("VALIDUS HOLDINGS, LTD. PROVIDES INITIAL ESTIMATE OF LOSSES FROM THE CHILEAN EARTHQUAKE AND EUROPEAN WINDSTORM XYNTHIA") dated March 12, 2010.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
359
|
Storm damage costs, including hurricane costs- recovered through securitization and retail rates (Note 2 –Storm Cost Recovery Filings with Retail Regulators) (Note 5)
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
1,850
|
(1)Excludes $3.2 million, pre-tax, of offsetting claims handling revenue the Company expects to earn on these fourth quarter catastrophe weather events.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
3,376
|
NV Energy, Inc. (“NV Energy” or the “Company”) announced on March 30, 2012, that the in-service date for the One Nevada Transmission Line (“ON Line”) under construction in Eastern Nevada will be further delayed due to on-going efforts to address wind-related damage sustained by some of the tower structures erected for the project. As a result, NV Energy is also further delaying the merger application of its two utilities, Sierra Pacific Power Company d/b/a NV Energy and Nevada Power Company d/b/a NV Energy. The ON Line project is jointly owned by the Company’s operating utilities and Great Basin Transmission South LLC, an affiliate of LS Power, and had originally been expected to enter service in late 2012. At this time, the Company does not anticipate that ON Line will be placed in service until the latter half of 2013.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,900
|
The “other non-same store facilities” represent facilities which, while not newly acquired, developed, or expanded, are not fully stabilized since January 1, 2019, due primarily to casualty events such as hurricanes, floods, and fires.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,653
|
Other matters—We are involved in various tax matters and various regulatory matters. We are also involved in lawsuits relating to damage claims arising out of hurricanes Katrina and Rita, all of which are insured and which are not material to us. As of September30, 2011, we were involved in a number of other lawsuits, including a dispute for municipal tax payments in Brazil and a dispute involving customs procedures in India, neither of which is material to us, and all of which have arisen in the ordinary course of our business. We do not expect the liability, if any, resulting from these other matters to have a material adverse effect on our consolidated statement of financial position, results of operations or cash flows. We cannot predict with certainty the outcome or effect of any of the litigation matters specifically described above or of any such other pending or threatened litigation. There can be no assurance that our beliefs or expectations as to the outcome or effect of any lawsuit or other litigation matter will prove correct and the eventual outcome of these matters could materially differ from management’s current estimates.
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Reimbursement
|
2,017
|
While the long-term impact of the October 2017 wildfires on the North Bay economy is still unknown, the immediate impact to our loan portfolio and to our customer base was minimal. Bank of Marin is committed to helping our customers and our communities recover and rebuild.
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Neutral
|
1,450
|
Item 2.02 Results of Operations and Financial ConditionOn October 25, 2012, Spirit AeroSystems Holdings, Inc. issued a press release announcing the recognition of program charges and insurance settlement in the third quarter under the heading “Spirit AeroSystems Recognizes Third Quarter Charges For Certain New Programs; Announces Settlement of Severe Weather Related Insurance Claim.” The press release is furnished as Exhibit 99.Item 9.01. Financial Statements and Exhibits(d) ExhibitsFurnishedExhibit 99 — Press Release dated October 25, 20122
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
2,119
|
In the second and third quarters of 2012, DPL incurred incremental storm restoration costs of $2 million associated with the June 2012 derecho which resulted in widespread damage to the electric distribution system in each of DPL’s service territories. DPL deferred $1 million of these costs as a regulatory asset to reflect the probable recovery of these storm restoration costs in Maryland and will be pursuing recovery of the incremental storm restoration costs in this jurisdiction during the next distribution base rate case. The remaining costs of $1 million relate to repair work completed in Delaware which are not currently deferrable.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,697
|
In the third quarter of 2011, the Texas region incurred extreme high temperatures for a prolonged period of time. This heat wave was compounded by fossil generator outages and a lack of wind plant availability throughout the region, which led to price spikes well above historical averages for replacement power that we had to purchase. This negatively affected our NewEnergy operating results by approximately $33 million after-tax. We discuss the impact of this development on our overall results in theNewEnergy operating resultssection.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,745
|
•The Sulphur Fire, in Lake County, started the evening of Oct. 8 and burned a total of 2,207 acres, destroying 162 structures. There were no injuries. CAL FIRE investigators determined the fire was caused by the failure
of a PG&E owned power pole, resulting in the power lines and equipment coming in contact with the ground.
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Negative
|
486
|
permitted, and is to be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. The Company plans to adopt the standard on January 1, 2019 and does not anticipate a material impact upon adoption.Non-GAAP Financial MeasuresTarget Parent has included Adjusted gross profit, EBITDA, Adjusted EBITDA, and Adjusted Free Cash Flow which are measurements not calculated in accordance with US generally accepted accounting principles (“GAAP”), in the discussion of its financial results because they are key metrics used by management to assess financial performance. Target Parent’s business is capital-intensive and these additional metrics allow management to further evaluate its operating performance.Target Parent defines Adjusted gross profit, as gross profit plus depreciation of specialty rental assets and loss on impairment.Target Parent defines EBITDA as net income (loss) before income tax expense (benefit), interest expense, depreciation of specialty rental assets, and other depreciation and amortization.Adjusted EBITDA reflects the following further adjustments to EBITDA to exclude certain non-cash items and the effect of what management considers transactions or events not related to its core business operations:·Currency (gain) loss, net:Target Parent incurred currency gains and losses on assets and liabilities denominated in foreign currencies other than the functional currency. Substantially all such currency (gains) losses are unrealized and non-cash.·Restructuring costs:Target Parent incurred nonroutine costs associated with restructuring plans designed to streamline operations and reduce costs.·Other expense (income), net:Target Parent recognized a gain on insurance proceeds received from a flood at one property located in North Dakota, gains related to the sale of assets in 2017, and income associated with recharged costs from Target Parent to affiliate groups.·Holdings selling, general and administrative costs:Holdings incurred nonrecurring costs in the form of legal and professional fees as well as transaction bonus amounts, primarily associated with a restructuring transaction in 2017.We define Adjusted Free Cash Flow as Adjusted EBITDA plus increases in deferred revenue and customer deposits, less decreases in deferred revenue and customer deposits, less maintenance capital expenditures for specialty rental assets.EBITDA reflects net income excluding the impact of interest expense, provision for income taxes, depreciation, and amortization. We believe that EBITDA is a meaningful indicator of operating performance because we use it to measure our ability to service debt, fund capital expenditures, and expand our business. We also use EBITDA, as do analysts, lenders, investors, and others, to evaluate companies because it excludes certain items that can vary widely across different industries or among companies within the same industry. For example, interest expense can be dependent on a company’s capital structure, debt levels, and credit ratings. Accordingly, the impact of interest expense on earnings can vary significantly among companies. The tax positions of companies can also vary because of their differing abilities to take advantage of tax benefits and because of the tax policies of the jurisdictions in which they operate. As a result, effective tax rates and provision for income taxes can vary considerably among companies. EBITDA also excludes depreciation and amortization expense, because companies utilize productive assets of different ages and use different methods of both acquiring and depreciating productive assets. These differences can result in considerable variability in the relative costs of productive assets and the depreciation and amortization expense among companies.Target Parent also believes that Adjusted EBITDA is a meaningful indicator of operating performance. Our Adjusted EBITDA reflects adjustments to exclude the effects of additional items, including non-routine items, that are not reflective of the ongoing operating results of Target Parent. In addition, to derive Adjusted EBITDA, we exclude gains or losses on the sale of depreciable assets because including them in EBITDA is inconsistent with reporting the ongoing performance of our remaining assets.Target Parent also presents adjusted free cash flow because we believe it provides useful information regarding our liquidity and ability to meet our short-term obligations. Adjusted Free Cash Flow indicates the amount of cash available after maintenance capital expenditures for, among other things, investments in our existing business.Adjusted gross profit, EBITDA, Adjusted EBITDA, and Adjusted Free Cash Flow are not measurements of Target87
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
972
|
Current year net losses incurred in 2006 decreased from 2005 due primarily to the lack of natural catastrophes such as Hurricanes Katrina, Rita and Wilma that occurred in 2005. Net losses incurred in 2004 also included significant losses due to hurricane activity, however, the losses were substantially less than those experienced in 2005.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Neutral
|
1,518
|
As a result of Hurricane Katrina and Hurricane Rita that hit Entergy's Utility service territories in August and September 2005, the Utility operating companies recorded accruals for the estimated storm restoration costs and originally recorded some of these costs as regulatory assets because management believes that recovery of these prudently incurred costs through some form of regulatory mechanism is probable. Entergy is pursuing a broad range of initiatives to recover storm restoration costs. Initiatives include obtaining reimbursement of certain costs covered by insurance, obtaining assistance through federal legislation for Hurricanes Katrina and Rita including Community Development Block Grants (CDBG), pursuing recovery through existing or new rate mechanisms regulated by the FERC and local regulatory bodies, and securitization. Entergy Gulf States, Entergy Louisiana, Entergy Mississippi, and Entergy New Orleans have received approval from state regulators for recovery of a portion of the storm restoration costs. In addition, these companies have received insurance proceeds and Entergy New Orleans has approval from state lawmakers for CDBG funding. The cost recovery mechanisms and approvals are discussed below.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
2,454
|
Core FFO attributable to common share and unit holders is anon-GAAPfinancial measure that we use as a supplemental measure of our performance. We compute this metric by adjusting FFO attributable to common share and unit holders for (1) acquisition and other transaction costs incurred with business combinations and the acquisition or disposition of properties as well as nonrecurring items unrelated to ongoing operations, (2) noncash share-based compensation expense, (3) hurricane-related charges, net, which result in material charges to the impacted single-family properties, (4) gain or loss on early extinguishment of debt and (5) the allocation of income to our perpetual preferred shares in connection with their redemption.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,473
|
The platforms and wells on Eugene Island 339 were completely destroyed by Hurricane Ike. Chevron is working on the plugging and abandonment of the existing wells, clearing debris and otherwise dealing with the remaining infrastructure, which activities are not expected to be completed until the first quarter of 2012. Chevron has informed the Corporate Trustee that Chevron presently
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
767
|
(d) Exhibits. The following are filed herewith:Exhibit No.Description99.1Press Release ("XL Group Announces Preliminary Natural Catastrophe Loss Estimates of $45 million Related to the Southern California Wildfires and $30 million Related to Other Events; Provides Initial Assessment of the Impact of US Tax Reform"), dated January 10, 2018.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
3,355
|
. The effects of the hurricanes were deemed to constitute triggering events with respect to the need to assess certain assets for impairment. Nonrecurring valuations were performed in connection with these impairment assessments, most notably to measure the fair value of
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,830
|
A $0.7million decrease in total reflects subrogation recoveries of $1.1million in the catastrophe reserve category from the California Thomas wildfire loss in the 2017 accident year and a decrease of $0.5million in the 2019 accident year primarily recognizing a lower than expected claims severity. These decreases were partially offset by increases in the 2018 and 2020 accident years mainly due to higher than anticipated claims severity.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
3,154
|
On October 26, 2020, Duke Energy Carolinas and Duke Energy Progress filed a joint petition with the NCUC, as agreed to in partial settlements reached in the 2019 North Carolina Rate Cases for Duke Energy Carolinas and Duke Energy Progress, seeking authorization for the financing of the costs of each utility's storm recovery activities required as a result of Hurricane Florence, Hurricane Michael, Hurricane Dorian and Winter Storm Diego. Specifically, Duke Energy Carolinas and Duke Energy Progress requested that the NCUC find that their storm recovery costs and related financing costs are appropriately financed by debt secured by storm recovery property, and that the commission issue financing orders by which each utility may accomplish such financing using a securitization structure. On January 27, 2021, Duke Energy Carolinas, Duke Energy Progress and the Public Staff filed an Agreement and Stipulation of Partial Settlement, subject to review and approval of the NCUC, resolving certain accounting issues, including agreement to support an 18- to 20-year bond period. The total revenue requirement over a proposed20-yearbond period for the storm recovery charges is approximately $287million for Duke Energy Carolinas and $920million for Duke Energy Progress and will be finalized upon issuance of the bonds. A remote evidentiary hearing ended on January 29, 2021. In the NCUC Orders in the 2019 rate cases issued on March 31, 2021, and April 16, 2021, for Duke Energy Carolinas and Duke Energy Progress, respectively, the reasonableness and prudence of the deferred storm costs was approved. On May 10, 2021, the NCUC issued financing orders authorizing the companies to issue storm recovery bonds, subject to the terms of the financing orders, and approving the Agreement and Stipulation of Partial Settlement in its entirety. Duke Energy Carolinas and Duke Energy Progress are currently in the process of structuring and marketing the bonds that will be presented to the market. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of this matter.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
1,030
|
Press Release ("XL Group Announces Preliminary Natural Catastrophe Loss Estimates of $45 million Related to the Southern California Wildfires and $30 million Related to Other Events; Provides Initial Assessment of the Impact of US Tax Reform"), dated January 10, 2018.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,514
|
Adjusted Earnings Per Share. We present diluted earnings per share (“EPS”) for the fourth fiscal quarter and full fiscal year 2018, and the corresponding prior periods, after eliminating items that we believe are not part of our ordinary operations and affect the comparability of the periods presented (“adjusted EPS”). These include adjustments for purchase accounting adjustments, acquisition-related transaction, integration and restructuring costs, financing costs, hurricane recovery costs, the loss resulting from the extinguishment of certain long-term debt, the reversal of a litigation reserve, the net impact of investment gains and asset impairments, a non-cash charge related to the previously mentioned change in the business model of our dispensing business, the dilutive impact of shares issued to fund the Bard acquisition, and additional tax expense relating to the recent U.S. tax legislation. We believe adjustments for these items allow investors to better understand the underlying operating results of BD and facilitate comparisons between the periods shown. We also show the growth in adjusted EPS compared to the prior year periods after eliminating the impact of foreign currency translation to further enable investors to evaluate BD’s underlying earnings performance compared to the prior year periods.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
946
|
Mr. Smith continued: “Hurricane Sandy had a profound impact on some of our New Jersey and New York colleagues this quarter, and our thoughts are with them and all of those severely impacted by the storm. While we were forced to close our corporate headquarters in New Jersey for a week, colleagues were able to utilize remote working arrangements or temporarily relocate to our other New Jersey facility. We were fully operational the following Monday, November 5. Because it happened at the end of our fiscal quarter, about $4 million of revenue were delayed but will be fully recovered in the third quarter.”
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
3,044
|
(a)2011 amount includes (i) $45.8 million reduction to expense for a Going Private transaction litigation insurance reimbursement; (ii) $11.1 million of expense associated with our initial public offering; and (iii) KMI’s portion ($12.9 million) of a $100 million special bonus to non-senior employees. The cost of this bonus will not be borne by KMI’s Class P shareholders. KMI will pay for the $100 million of special bonuses, which includes the amounts allocated to KMP, using $64 million (after-tax) in available earnings and profits reserved for this purpose and not paid in dividends to KMI’s Class A shareholders. See also footnote (c) below.(b)For the first quarter of 2011 and 2010, the NGPL PipeCo LLC general and administrative reimbursement of $9.8 million and fixed fee revenues of $11.8 million, respectively, have been recorded to the “Product sales and other” caption in our accompanying consolidated statements of income with the offsetting expenses primarily recorded to the “General and administrative” expense caption in our accompanying consolidated statements of income. Also, see Notes 9 and 11 to our consolidated financial statements included elsewhere in this report.(c)Includes such items as salaries and employee-related expenses, payroll taxes, insurance, office supplies and rentals, unallocated litigation and environmental expenses, and shared corporate services. First quarter 2011 amount includes (i) an increase in expense of $87.1 million allocated from us to KMP which KMP is required to recognize in accordance with generally accepted accounting principles (however, KMP has no obligation, nor does KMP expect to pay any amounts related to this expense) related to a special bonus expense discussed in footnote (a) above and (ii) a $0.5 million increase in expense for certain KMP business and acquisition costs. First quarter 2010 amount includes (i) a $1.6 million increase in KMP legal expense associated with items disclosed in these footnotes such as legal settlements and pipeline failures; (ii) a $1.4 million increase in expense for certain KMP asset and business acquisition costs; and (iii) a $0.3 million decrease in expense related to KMP capitalized overhead costs associated with the 2008 hurricane season.(d)First quarter 2011 and 2010 amounts include increases in imputed interest expense of $0.2 million and $0.4 million, respectively, related to KMP’s January 1, 2007 Cochin Pipeline acquisition.(e)“Other, net” primarily represents an offset to noncontrolling interests and interest income shown above and included in segment earnings.
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Neutral
|
1,380
|
FPL was impacted by Hurricane Irma in September 2017 which resulted in damage throughout much of FPL's service territory. Damage to FPL property from the hurricane was primarily limited to the transmission and distribution systems. In December 2017, following the enactment of tax reform as further discussed in Note 6, FPL determined that it would not seek recovery of Hurricane Irma storm restoration costs of approximately$1.3 billionthrough a storm surcharge from customers and, as a result, the regulatory asset associated with Hurricane Irma was written off in December 2017 as storm restoration costs in NEE's and FPL's consolidated statements of income. As allowed under the 2016 rate agreement, FPL used available reserve amortization to offset nearly all of the expense, and plans to partially restore the reserve amortization through tax savings generated during the term of the 2016 rate agreement. In February 2018, the FPSC opened separate dockets for FPL and several other utilities in Florida to address the impacts of tax reform.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
406
|
Hurricanes Katrina, Rita and Wilma.As at December 31, 2005 we relied significantly on estimates to project our total retained and gross losses from Hurricanes Katrina, Rita and Wilma as we had received a limited number of actual reported claims. Although a substantial number of claims have now been reported, our estimates remain uncertain because of the extremely complex and unique causation and coverage issues associated with the unprecedented nature of these events, including the attribution of losses to wind or flood damage or other perils such as fire, business interruption or riot and civil commotion. In addition, these estimates may vary due to potential legal and regulatory developments related to allocation of losses, as well as inflation in repair costs due to the limited availability of labor and materials due in part to the size and proximity in time and distance of the three hurricanes. Some of these issues are, or are expected to be, the subject of litigation and may not be resolved for a considerable period of time.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,901
|
•Due to winter storm impacts, we now expect first quarter 2021 Revenue and Adjusted EBITDA near the low end of our prior guidance range of $650 million to $700 million, and $90 million to $100 million, respectively
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,744
|
On September 19, 2018, the Company issued a press release providing an update on operations at its hotels in the path of Hurricane Florence.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Neutral
|
360
|
•Hurricane related expenses. In September 2017, Hurricane Maria caused disruption and minor damage to our facility in Anasco, Puerto Rico. The Company incurred expenses, including idle capacity, to restore the facility to its normal operations. Management excludes this item when evaluating the Company’s performance because of the infrequent nature of this activity.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,751
|
At March 31, 2022 and December 31, 2021, Edison International's and SCE's consolidated balance sheets include fixed payments to be made under executed settlement agreements and accrued estimated losses of $1.4billion and $1.7billion, respectively, for the 2017/2018 Wildfire/Mudslide Events. The following table presents changes in estimated losses since December 31, 2021:
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,059
|
the recognition of a $14 million Louisiana state income tax benefit related to storm cost financing.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
2,589
|
On March 22, 2010, Arch Capital Group Ltd. issued a press release announcing initial estimates of impact from the Chilean earthquake, European Windstorm Xynthia and Australian hailstorms and floods. A copy of this press release is attached to this Current Report on -K as Exhibit 99.1 and is incorporated herein by reference.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,105
|
In addition, in the three months ended March 31, 2007 and 2006, we expensed inspection and repair costs related to damages caused by HurricanesKatrinaandRitafor our oil and gas properties totaling approximately $693,000 and $3.5 million, respectively, partially offset by $2.7 million of insurance recoveries recognized in the three months ended March 31, 2006. No insurance recoveries have been received in 2007.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
2,715
|
All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. Duke Energy Carolinas and Duke Energy Progress have restricted cash balances related to VIEs from storm recovery bonds issued in 2021. See Note 17 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Consolidated Balance Sheets.The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets.
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Neutral
|
2,551
|
•Our expectation that 2010 Subsea Projects operating income will be lower than 2009, due to the completion of the current contract forThe Performerin March 2010; a softer market for our deepwater vessels in the Gulf of Mexico; continued decline in hurricane-related diving work; and higher vessel drydock expenses;
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
3,165
|
The Credit Agreement provides for a $2.5 billion unsecured term loan facility. Proceeds of the loans under the Credit Agreement will be available for natural gas purchases as a result of the 2021 winter weather events and the repayment of indebtedness. The Credit Agreement matures two years after the loans are funded under the Credit Agreement. The loans under the Credit Agreement will bear interest at a “Eurodollar Rate” or a “Base Rate” as specified in the Credit Agreement, plus a margin specified in the Credit Agreement which adjusts based on our debt ratings and the outstanding amount of loans remaining under the Credit Agreement. Outstanding loans or commitments under the Credit Agreement are required to be prepaid or reduced, as applicable, with the net cash proceeds received by ONE Gas or any of its subsidiaries from certain debt and equity issuances.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,557
|
from lost volume and downtime due to the hurricane.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,695
|
On October 18, 2018, Horace Mann Educators Corporation issued a news release estimating its financial impact from severe weather events in the three months ended September 30, 2018. A copy of the news release is attached as Exhibit 99.2 and is incorporated by reference herein.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,910
|
Total deposits were $30.5 billion at December 31, 2021, up $2.8 billion, or 10%, from December 31, 2020.Average deposits of $29.1 billion for 2021 were up $2.9 billion, or 11%, over 2020. The increases from 2020 for both end of period and average deposits was primarily pandemic-related, including increases from PPP loan proceeds and economic stimulus payments. During the latter half of 2021, deposit levels were also influenced by Hurricane Ida insurance proceeds.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
123
|
The hot weather and low rainfall were also significant factors in causing TVA to reduce power output at several generating plants during the period of mid-June through mid-September. During this period, temperatures on the Tennessee and Cumberland Rivers reached levels at which discharging cooling water from some of TVA’s plants into the rivers could have caused the permitted thermal limits for the rivers to be exceeded. Accordingly, TVA temporarily took one unit at Browns Ferry Nuclear Plant offline and reduced the output of the other two units at Browns Ferry to 75 percent of capacity.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
596
|
UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM8-KCURRENT REPORTPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934Date of Report:December 16, 2019(Date of earliest event reported)Commission File NumberExact Name of Registrantas specified in its charterState or Other Jurisdiction ofIncorporation or OrganizationIRS Employer Identification Number001-12609PG&E CORPORATIONCalifornia94-3234914001-02348PACIFIC GAS AND ELECTRIC COMPANYCalifornia94-074264077 BEALE STREET77 BEALE STREETP.O. BOX 770000P.O. BOX 770000SAN FRANCISCO,California94177SAN FRANCISCO,California94177(Address of principal executive offices) (Zip Code)(Address of principal executive offices) (Zip Code)(415)973-1000(415)973-7000(Registrant’s telephone number, including area code)(Registrant’s telephone number, including area code)Check the appropriate box below if the -K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))Securities registered pursuant to Section 12(b) of the Act:Title of each classTrading Symbol(s)Name of each exchangeon which registeredCommon stock, no par valuePCGThe New York Stock ExchangeFirst preferred stock, cumulative, par value $25 per share, 5% series A redeemablePCG-PENYSE American LLCFirst preferred stock, cumulative, par value $25 per share, 5% redeemablePCG-PDNYSE American LLCFirst preferred stock, cumulative, par value $25 per share, 4.80% redeemablePCG-PGNYSE American LLCFirst preferred stock, cumulative, par value $25 per share, 4.50% redeemablePCG-PHNYSE American LLCFirst preferred stock, cumulative, par value $25 per share, 4.36% series A redeemablePCG-PINYSE American LLCFirst preferred stock, cumulative, par value $25 per share, 6% nonredeemablePCG-PANYSE American LLCFirst preferred stock, cumulative, par value $25 per share, 5.50% nonredeemablePCG-PBNYSE American LLCFirst preferred stock, cumulative, par value $25 per share, 5% nonredeemablePCG-PCNYSE American LLCIndicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).Emerging growth companyPG&E Corporation☐Emerging growth companyPacific Gas and Electric Company☐If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.PG&E Corporation☐Pacific Gas and Electric Company☐Item 1.01 Entry into a Material Definitive Agreement.As previously disclosed, PG&E Corporation and Pacific Gas and Electric Company (the “Utility” and, together with PG&E Corporation, the “Debtors”) entered into a Restructuring Support Agreement (the “RSA”) with the Official Committee of Tort Claimants (the “TCC”), the attorneys and other advisors and agents for holders of Fire Victim Claims (as defined in the RSA) that are signatories to the RSA (each a “Consenting Fire Claimant Professional”), and certain funds and accounts managed or advised by Abrams Capital Management, LP and certain funds and accounts managed or advised by Knighthead Capital Management, LLC (each a “Shareholder Proponent”). On December 12, 2019, the Debtors and Shareholder Proponents filed the Debtors’ and Shareholder Proponents’ Joint Chapter 11 Plan of Reorganization dated December 12, 2019 with the Bankruptcy Court (the “Proposed Plan”).On December 16, 2019, the Debtors entered into an amendment to the RSA (the “Amendment”) with the Requisite Consenting Fire Claimant Professionals (as defined in the RSA, which includes the TCC) and the Shareholder Proponents. Previously, the RSA provided that it would automatically terminate if, on or before December 13, 2019, the Governor of the State of California (the “Governor”) advised the Debtors that in his sole judgment the Proposed Plan and the restructuring transactions provided therein do not comply with Assembly Bill 1054, provided that such termination could not occur if the Debtors had modified the Proposed Plan in a manner acceptable to the Governor in his sole discretion by the earlier of (i) the commencement of the Bankruptcy Court hearing to approve the RSA and (ii) December 17, 2019. The Amendment eliminates this automatic termination provision. The Amendment also makes certain changes to the definition of “Aggregate Fire Victim Consideration.”The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.Item 7.01 Regulation FD Disclosure.On December 16, 2019, PG&E Corporation issued a news release announcing the Amendment. A copy of this news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.The information set forth in this Item 7.01 of this Current Report on -K and in Exhibit 99.1 is being furnished hereby and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any of the Debtors’ filings under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except to the extent expressly set forth by specific reference in such filings. The filing of this Current Report on -K (including the exhibit hereto or any information included herein or therein) shall not be deemed an admission as to the materiality of any information herein that is required to be disclosed solely by reason of Regulation FD.Public Dissemination of Certain InformationPG&E Corporation and the Utility routinely provide links to the Utility’s principal regulatory proceedings with the California Public Utilities Commission and the Federal Energy Regulatory Commission at http://investor.pgecorp.com, under the “Regulatory Filings” tab, so that such filings are available to investors upon filing with the relevant agency. PG&E Corporation and the Utility also routinely post, or provide direct links to, presentations, documents, and other information that may be of interest to investors at http://investor.pgecorp.com, under the “Chapter 11,” “Wildfire Updates” and “News & Events: Events & Presentations” tabs, respectively, in order to publicly disseminate such information. It is possible that any of these filings or information included therein could be deemed to be material information. The information contained on such website is not part of this or any other report that PG&E Corporation or the Utility files with, or furnishes to, the Securities and Exchange Commission.Item 9.01 Financial Statements and Exhibits.(d) ExhibitsExhibit NumberDescription10.1First Amendment to the Restructuring Support Agreement, dated as of December 16, 2019, by and among the Debtors, the TCC, the Consenting Fire Claimant Professionals, and the Shareholder Proponents99.1News Release dated December 16, 2019104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL documentSIGNATURESPursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.PG&E CORPORATIONDate: December 17, 2019By:/s/ JASON P. WELLSName:Jason P. WellsTitle:Executive Vice President and Chief Financial OfficerPACIFIC GAS AND ELECTRIC COMPANYDate: December 17, 2019By:/s/ DAVID S. THOMASONName:David S. ThomasonTitle:Vice President, Chief Financial Officer and Controller
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Negative
|
1,743
|
Nine Months Ended Sep. Nine Months Ended Sep. 30, 2008 Summary -Other operation and maintenance expenses decreased $6 million primarily to due $11 million of lower electric generation maintenance expenses primarily due to planned maintenance outages in 2008, $11 million of incremental expenses incurred in the second and third quarters of 2008 related to severe flooding, $10 million of lower steam fuel, operation and maintenance expenses and lower expenses resulting from cost saving initiatives implemented in the second quarter of 2009. These items were partially offset by $13 million of higher pension and other postretirement benefits costs, $4 million of incremental expenses incurred in the nine months ended Sep. 30, 2009 related to the severe flooding that occurred in 2008, $4 million of restructuring charges incurred in the second quarter of 2009 related to the elimination of certain corporate and operations positions, a $4 million asset impairment charge recorded in the second quarter of 2009 for the steam assets used to service steam customers in downtown Cedar Rapids and $3 million of higher expenses related to coal sales.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,511
|
to restore service, which has been recorded as new plant and equipment or charged against FPU’s accumulated depreciation and storm reserve. In conjunction with the hurricane-related expenditures, we executed two 13-month unsecured term loans as temporary financing, each in the amount of $30.0 million. The interest cost associated with these loans is one-month LIBOR rate plus 75 basis points. One term loan was executed in December 2018; the other was executed in January 2019. While there was a short-term negative impact, the storm is not expected to have a significant impact going forward, assuming recovery is granted through the regulatory process. On August 7, 2019, we filed the necessary regulatory filings seeking recovery of the restoration costs incurred, including eligible financing costs.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,930
|
On January 11, 2012, Century Aluminum Company (the “Company’) issued a press release announcing that the Grundartangi smelter, owned and operated by the Company’s wholly owned subsidiary, Nordural Grundartangi ehf (“Nordural”) experienced a temporary power outage on January 10, 2012 due to abnormal and extreme weather conditions at an offsite electrical substation. Plant personnel handled the interruption safely and no injuries have been recorded. The smelter is in the process of resuming full operations and Nordural is continuing to evaluate the full impact of the outage on the smelter, which it does not currently believe to be material. Additional information regarding the power outage is set forth in the Company’s press release attached as Exhibit 99.1 and is incorporated herein by reference.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Neutral
|
206
|
For the year ended December 31, 2020, the decrease primarily reflects lower storm costs as a result of the August 2020 storm costs being reclassified to a regulatory asset.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
265
|
In connection with such presentation, Evan Greenberg, Chairman and Chief Executive Officer of the company, commented on Superstorm Sandy: “Sandy was a large, complex event for the industry, with loss estimates in the range of $20 billion to $25 billion. As you all know, ACE has a meaningful presence in the industry, so obviously we will have losses – this is the business we are in. I expect our losses to be in keeping with our market presence. Sandy will not impact either our balance sheet or earnings generation capability.”
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Neutral
|
2,469
|
The hurricane-force storms that hit West Virginia, Pennsylvania, Indiana and the Carolinas in late June and early July had a severe impact on our operation as 277 central offices were impacted, causing the purchase of 203 generators and replacement of 167,000 feet of cable. We moved personnel from non-affected states to those areas hit hardest. Our incremental overtime and contractor costs in the third quarter are expected to be approximately $15M over Q2 and approximately $3M over Q3 2011 storm costs. Overtime in September has dropped back down to normal levels.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,357
|
Adjusted net income (a non-GAAP financial measure) increased by 50% from $236 million for the three months ended March 31, 2020 to $354 million for the three months ended March 31, 2021. The increase is primarily due to a $77 million increase in Renewables driven by higher merchant pricing from the Texas weather event, a $31 million increase in Networks driven primarily by the New York rate case and a $10 million increase in Corporate mainly driven by decreased income tax expense.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Positive
|
3,262
|
·PG&E’s financial profile and the amount of capital necessary to address PG&E’s potential wildfire liabilities and to continue to operate its business safely and to make investments in its systems, infrastructure and critical safety efforts, including its Community Wildfire Safety Program, an additional precautionary measure implemented following the 2017 Northern California wildfires to further reduce wildfire risk,
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
757
|
IPL’s cash flows from operating activities increased $176 million primarily due to increased collections from IPL’s customers during 2010 caused by the impacts of rate increases and higher electric sales, $90 million of higher cash flows from changes in the level of accounts receivable sold during 2010 and 2009, $59 million of pension plan contributions during 2009 and $38 million of higher income tax refunds during 2010. These items were partially offset by $86 million of higher payments to ITC during 2010 for electric transmission service and $27 million of insurance proceeds received by IPL during 2009 for operation expenditures related to the severe flooding in 2008.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
2,084
|
UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 8-KCURRENT REPORTPursuant to Section 13 or 15(d) of theSecurities Exchange Act of 1934Date of Report (Date of earliest event reported): November 15, 2018Commission file number000-23446SUGARMADE, INC.(Exact name of registrant as specified in its charter)Delaware94-3008888(State or other jurisdiction of(I.R.S. Employerincorporation or organization)Identification No.)750 Royal Oaks Dr., Suite 108Monrovia, CA91016(Address of principal executive offices)(Zip Code)(888) 982-1628(Registrant's telephone number, including area code)(Former name or former address, if changed since last report)Check the appropriate box below if the -K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))Item 7.01 Regulation FD DisclosureSugarmade Inc., a Delaware corporation (the “Company”) makes the following disclosures pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934, generally referred to as Regulation FD Disclosure.On November 14, 2018, the Company filed Form NT 10-Q Notification of Inability to timely file -Q for the quarterly period ending September 30, 2018. On October 26, 2018, the Company received a letter from its auditing firm (the “Auditor Letter”) stating, “Due to the recent state of emergencies from hurricanes Florence and Michael, our ability to timely complete our audit procedures was affected…”. The Auditor Letter references Securities and Exchange Act of 1934, (the “SEC”) Release No. 34-84440 dated October 16, 2018 (the “October 16th Order”). A copy of Release No. 34-84440 is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Pursuant to Section I of the October 16th Order, the SEC has established a time period for relief with respect to those persons or entities affected by Hurricane Michael, for the period from and including October 10, 2018 to November 21, 2018, all reports, schedules or forms must be filed on or before November 23, 2018.With -Q for the quarterly period ending September 30, 2018 due to be filed with the Securities Exchange Commission on November 15, 2018, the Company’s auditing firm is still being affected by the condition previously outlined, thus the Company is filing Form NT (Notification of Inability to timely file -Q) for the quarterly period ending September 30, 2018.The Company continues to be responsive to our auditor firm’s requests for information and is working in conjunction with the auditor’s staff in order to complete the required filings and plans to submit such filing as soon as is possible.FORWARD-LOOKING STATEMENTS: This filing contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance. At this time there are no assurances the Company’s acquisition efforts will be successful.Item 9.01. Financial Statements and Exhibits(d) ExhibitsExhibit No.Description99.1Securities and Exchange Act of 1934 Release No. 34-84440 dated October 16, 2018-1-SIGNATURESPursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.SUGARMADE, INC.Date: November 15, 2018By:/s/ Jimmy ChanName: Jimmy ChanTitle: Chief Executive Officer-2-
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,521
|
As described in Notes 1 and 11 to the consolidated financial statements, the Company's accounting policies conform to accounting principles generally accepted in the United States of America, including the accounting principles for rate-regulated enterprises, which reflect the ratemaking policies of the CPUC and the FERC. Management applies authoritative guidance for rate-regulated enterprises to the portion of its operations in which regulators set rates at levels intended to recover the estimated costs of providing service, plus a return on net investments in assets, or rate base. Regulators may also impose certain penalties or grant certain incentives. Due to timing and other differences in the collection of electric utility revenue, these accounting principles require an incurred cost that would otherwise be charged to expense by a non-regulated entity to be capitalized as a regulatory asset if it is probable that the cost is recoverable through future rates. As disclosed by management, management assesses at the end of each reporting period whether regulatory assets are probable of future recovery by considering factors such as the current regulatory environment, the issuance of rate orders on recovery of the specific or a similar incurred cost of the Company or other rate-regulated entities, and other factors that would indicate that the regulator will treat an incurred cost as allowable for ratemaking purposes. As of December 31, 2021, $1.76 billion recorded in wildfire and drought restoration accounts and wildfire-related memorandum accounts represent wildfire and drought restoration costs that are probable of future recovery from customers.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
210
|
As reflected in the table above, we had adverse development in 2022 related to prior year losses. This adverse development came as a result of the strengthening of our catastrophe reserves in 2022 based on historical loss trends. The loss payments made by the Company during the nine months ended September 30, 2022, were lower than the loss payments made during the nine months ended September 30, 2021, due to the settling of claims during 2021 related to the unprecedented number of catastrophic events that took place in 2020. Case and IBNR reserves and reinsurance recoverable on unpaid losses increased when compared to the prior period as a result of Hurricane Ian, which made landfall during the third quarter of 2022.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
143
|
(1) 2006 billed electric energy sales includes 96 GWh of billings related to 2005 deliveries that were billed in 2006 because of billing delays following Hurricane Katrina, which results in an increase of 666 GWh in 2007, or 5.3%.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Positive
|
3,016
|
Hurricane Katrina cash costs, net excluding lost profits
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,519
|
We recorded rental revenues of $428.1 million for the year ended December 31, 2016, an increase of $89.7 million or 26.5% when compared to 2015 rental revenues of $338.4 million. Of the increase in rental revenue, $16.1 million resulted from a 5.0% increase in rental revenues at the 417 core properties considered in same store sales (those properties included in the consolidated results of operations since January 1, 2015, excluding the properties we sold in 2016 and 2015, three properties purchased prior to January 1, 2015 that have not yet stabilized and three properties significantly impacted by flooding in 2016). The increase in same store rental revenues was a result of a 50 basis point increase in average occupancy and a 4.3% increase in rental income per square foot. The remaining increase in rental revenue of $73.6 million resulted from the revenues from the acquisition of 145 properties completed since January 1, 2015 (excluding the four properties purchased in 2015 that had been leased since November 2013 and are included in the same store pool), slightly offset with the revenue decrease as a result of eight self-storage properties sold in 2016 and three self-storage properties sold in 2015. Other operating income, which includes merchandise sales, insurance administrative fees, truck rentals, management fees and acquisition fees, increased by $6.3 million for the year ended December 31, 2016 compared to 2015 primarily due to increased administrative fees earned on customer insurance.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
836
|
Cleco Power is exploring the potential reimbursement of storm restoration costs from the U.S. Government to reduce the amount to be recovered from customers. Cleco Power cannot predict with certainty that any reimbursement from the U.S. Government or securitization of costs will be approved or that any such financing can be consummated. Previously, Cleco Power was exploring the possibility of financing the storm restoration costs with tax-exempt bonds through the GO Zone Act. The Louisiana State Bond Commission granted preliminary approval to Cleco Power for the issuance of up to $160.0 million of tax-exempt bonds under the GO Zone Act. Currently, Cleco Power has identified certain projects in the Gulf Opportunities Zone areas to be completed by 2010 and has filed a supplemental application with the Louisiana Public Finance Authority to reduce the amount of bonds requested to $100.0 million, which would provide proceeds to fund capital expenditures in those identified areas. It is not certain that final approval will be granted by the Louisiana State Bond Commission as a result of the limited supply of available GO Zone Act financing capacity.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,789
|
Confederate motorcycles are presently manufactured at our sole production facility located in Birmingham, Alabama. We relocated to Birmingham in December of 2005, following the catastrophic loss of our original manufacturing facility in New Orleans caused by hurricane Katrina. A significant interruption of production at the Birmingham facility would have a material adverse effect on our business, prospects, results of operations and financial condition.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,925
|
1Losses from Hurricane Florence include $1 million to $2 million of losses in Global Lifestyle related
to the Global Automotive business.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,066
|
•Charge of $2.5 billion ($1.8 billionafter-tax) in 2018 for SCE's wildfire-related claims, net of expected recoveries from insurance and FERC customers.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,676
|
the decrease of $4.7 million in carrying charges on Hurricane Katrina and Hurricane Rita storm restoration costs as a result of the Act 55 storm cost financing; and
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
1,887
|
Exhibit NoDescription99.1Press Release dated October 26, 2010 issued by Kansas City Southern entitled “Kansas City Southern Reports Third Quarter Earnings per Share of $0.48 in spite of Hurricane
Impacted Revenues”.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,616
|
We have manufacturing and other operations in locations prone to severe weather and natural disasters, including earthquakes, hurricanes or tsunamis that could disrupt our operations, such as the partial roof collapse we experienced at one of our commercial segment manufacturing facilities during the second quarter of fiscal 2019 due to heavy snow accumulation and blizzard conditions. Our suppliers and customers also have operations in such locations. Severe weather or a natural disaster that results in a prolonged disruption to our operations, or the operations of our customers or suppliers could delay delivery of parts, materials or components to us or sales to our customers and could have a material adverse effect on our net sales, financial condition, profitability and/or cash flows.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
924
|
Base lease operating expenses decreased primarily due to decreased contract labor and supplies at various fields offset by increased expenses related to the fields acquired from ANKOR. The increases in workover expenses and facilities maintenance expense were due to an increase in projects undertaken.Workovers and facilities maintenance expenses consist of costs associated with major remedial operations on completed wells to restore, maintain or improve the well’s production. Since these remedial operations are not regularly scheduled, workover and maintenance expense are not necessarily comparable from period to period.Lastly, during the three months ended March 31, 2021 we incurred $2.3 million in expenses related to repairs associated with hurricanes that we did not incur during the three months ended March 31, 2022.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,707
|
▪$10 million amortization of Wildfire Fund asset.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,561
|
Actions we are taking to reduce our risk of loss from wildfires include changing homeowners underwriting requirements in certain states and purchasing nationwide occurrence reinsurance. Catastrophe losses related to the Southern California wildfires occurred during 2009 and totaled $76 million.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
179
|
For additional information about the 2017 Northern California wildfires, see PG&E’s wildfire update website noted above and the Corporation’s and the Utility’s annual report on -K for the year ended December 31, 2017, their quarterly reports for the quarters ended March 31, 2018, June 30, 2018, and September 30, 2018, and their subsequent reports filed with the SEC.
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Negative
|
2,054
|
(“NGLs”), the competitive effects of the available pipeline capacity in the regions served by Enable, and the effects of geographic and seasonal commodity price differentials, including the effects of these circumstances on re-contracting available capacity on Enable’s interstate pipelines; (C) the demand for crude oil, natural gas, NGLs and transportation and storage services; (D) environmental and other governmental regulations, including the availability of drilling permits and the regulation of hydraulic fracturing; (E) recording of non-cash goodwill, long-lived asset or other than temporary impairment charges by or related to Enable; (F) changes in tax status; (G) access to debt and equity capital and (H) the availability and prices of raw materials and services for current and future construction projects; (15) industrial, commercial and residential growth in CenterPoint Energy’s service territories and changes in market demand, including the demand for CenterPoint Energy’s non-rate regulated products and services and effects of energy efficiency measures and demographic patterns, (16) timely and appropriate rate actions that allow recovery of costs and a reasonable return on investment, (17) future economic conditions in regional and national markets and their effect on sales, prices and costs, (18) weather variations and other natural phenomena, including the impact of severe weather events on operations and capital, (19) state and federal legislative and regulatory actions or developments affecting various aspects of CenterPoint Energy’s and Enable’s businesses, including, among others, energy deregulation or re-regulation, pipeline integrity and safety and changes in regulation and legislation pertaining to trade, health care, finance and actions regarding the rates charged by CenterPoint Energy’s regulated businesses, (20) CenterPoint Energy’s expected timing, likelihood and benefits of completion of CenterPoint Energy’s proposed acquisition of Vectren, including the timing, receipt and terms and conditions of any required approvals by Vectren’s shareholders and governmental and regulatory agencies that could reduce anticipated benefits or cause the parties to delay or abandon the proposed transactions, as well as the ability to successfully integrate the businesses and realize anticipated benefits, the possibility that long-term financing for the proposed transactions may not be put in place before the closing of the proposed transactions and the risk that the credit ratings of the combined company or its subsidiaries may be different from what CenterPoint Energy expects, (21) tax legislation, including the effects of the comprehensive tax reform legislation informally referred to as the TCJA (which includes any potential changes to interest deductibility) and uncertainties involving state commissions’ and local municipalities’ regulatory requirements and determinations regarding the treatment of excess deferred income taxes and CenterPoint Energy’s rates, (22) CenterPoint Energy’s ability to mitigate weather impacts through normalization or rate mechanisms, and the effectiveness of such mechanisms, (23) the timing and extent of changes in commodity prices, particularly natural gas, and the effects of geographic and seasonal commodity price differentials, (24) actions by credit rating agencies, including any potential downgrades to credit ratings, (25) changes in interest rates and their impact on CenterPoint Energy’s costs of borrowing and the valuation of its pension benefit obligation, (26) problems with regulatory approval, construction, implementation of necessary technology or other issues with respect to major capital projects that result in delays or in cost overruns that cannot be recouped in rates, (27) local, state and federal legislative and regulatory actions or developments relating to the environment, including those related to global climate change, (28) the impact of unplanned facility outages, (29) any direct or indirect effects on CenterPoint Energy’s facilities, operations and financial condition resulting from terrorism, cyber-attacks, data security breaches or other attempts to disrupt CenterPoint Energy’s businesses or the businesses of third parties, or other catastrophic events such as fires, earthquakes, explosions, leaks, floods, droughts, hurricanes, pandemic health events or other occurrences, (30) CenterPoint Energy’s ability to invest planned capital and the timely recovery of CenterPoint Energy’s investment in capital, (31) CenterPoint Energy’s ability to control operation and maintenance costs, (32) the sufficiency of CenterPoint Energy’s insurance coverage, including availability, cost, coverage and terms and ability to recover claims, (33) the investment performance of CenterPoint Energy’s pension and postretirement benefit plans, (34) commercial bank and financial market conditions, CenterPoint Energy’s access to capital, the cost of such capital, and the results of CenterPoint Energy’s financing and refinancing efforts, including availability of funds in the debt capital markets, (35) changes in rates of inflation, (36) inability of various counterparties to meet their obligations to CenterPoint Energy, (37) non-payment for CenterPoint Energy’s services due to financial distress of its customers, (38) the extent and effectiveness of CenterPoint Energy’s risk management and hedging activities, including, but not limited to, its financial and weather hedges and commodity risk management activities, (39) timely and appropriate regulatory actions, which includes actions allowing securitization, for any future hurricanes or natural disasters or other recovery of costs, including costs associated with Hurricane Harvey, (40) CenterPoint Energy’s or Enable’s potential business strategies and strategic initiatives, including restructurings, joint ventures and acquisitions or dispositions of assets or businesses (including a reduction of CenterPoint Energy’s interests in Enable, whether through its decision to sell all or a portion of the Enable common units it owns in the public equity markets or otherwise, subject to certain limitations), which CenterPoint Energy cannot assure will be completed or will have the anticipated benefits to it or Enable, (41) acquisition and merger activities involving CenterPoint Energy or its competitors, including the ability to successfully complete merger, acquisition or divestiture plans, (42) CenterPoint Energy’s or Enable’s ability to recruit, effectively transition and retain management and key employees and maintain good labor relations, (43) the outcome of litigation, (44) the ability of retail electric providers (“REPs”), including REP affiliates of NRG and Vistra Energy Corp., formerly known as TCEH Corp., to satisfy their obligations to CenterPoint Energy and its subsidiaries, (45) the ability of GenOn Energy, Inc. (formerly known as RRI Energy, Inc., Reliant Energy and RRI), a wholly-owned subsidiary of NRG Energy, Inc. (“NRG”), and its subsidiaries, currently the subject of bankruptcy proceedings, to satisfy their obligations to CenterPoint Energy, including indemnity obligations, (46) changes in technology, particularly with respect to efficient battery storage or the emergence or growth of new, developing or alternative sources of generation, (47) the timing and outcome of any audits, disputes and other proceedings related to taxes, (48) the effective tax rates and (49) the effect of changes in and application of accounting standards and pronouncements.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Neutral
|
1,641
|
Entergy’s cash flow provided by operating activities decreased by $391 million in 2009 compared to 2008 primarily due to the receipt in 2008 of $954 million from the Louisiana Utilities Restoration Corporation as a result of the Louisiana Act 55 storm cost financings, Arkansas ice storm restoration spending, and increases in nuclear refueling outage spending and spin-off costs for the non-utility nuclear business. These factors were partially offset by a decrease of $94 million in income tax payments, a decrease of $155 million in pension contributions at Utility and Entergy Wholesale Commodities, increased collection of fuel costs, and higher spending in 2008 on Hurricane Gustav and Hurricane Ike storm restoration.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
3,336
|
Our tenants’ profitability and, to some degree, our variable rent revenue were negatively impacted by extreme weather events in 2018. Specifically, hurricane Michael affected our pecan farms in Alabama and Georgia, and excess rainfall
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
699
|
Storm costs incurred in PPL Electric's territory from a March 2018 storm will be amortized from 2019 through 2021.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
561
|
As previously disclosed, due to the net charges recorded in connection with the 2018 Camp Fire and the 2017 Northern California wildfires as of December 31, 2018, on February 28, 2019, the Utility submitted to the CPUC an application for a waiver of the capital structure condition. This cost of capital application does not modify that request.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,627
|
·an
increase of $6.8 million due to the Hurricane Ike and Hurricane Gustav
storm cost recovery settlement agreement, as discussed below under "Hurricane Ike and
Hurricane Gustav";
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
2,979
|
On September 24, 2019, Triple-S Management Corporation (“Company”) issued a press release providing market update on Reserves from Hurricanes Irma and Maria as of September 23, 2019, announcing that the Company and its P&C subsidiary, Triple-S Propiedad Inc., remain comfortable with the subsidiary’s reserves previously established as of June 30, 2019.
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Neutral
|
2,839
|
•variations in weather and the occurrence of hurricanes and other storms and disasters, including uncertainties associated with efforts to remediate the effects of hurricanes (including from Hurricane Laura, Hurricane Delta, Hurricane Zeta, and Hurricane Ida), ice storms, or other weather events and the recovery of costs associated with restoration, including accessing funded storm reserves, federal and local cost recovery mechanisms, securitization, and insurance, as well as any related unplanned outages;
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
2,138
|
Item 8.01 Other Events.On June 27, 2019, the California Public Utilities Commission (the “CPUC”) issued an Order Instituting Investigation (the “2017 Northern California Wildfires OII” or the “OII”) to determine whether Pacific Gas and Electric Company (the “Utility”), a subsidiary of PG&E Corporation, “violated any provision(s) of the California Public Utilities Code (PU Code), Commission General Orders (GO) or decisions, or other applicable rules or requirements pertaining to the maintenance and operation of its electric facilities that were involved in igniting fires in its service territory in 2017.”The 2017 Northern California Wildfires OII discloses the findings of a June 13, 2019 report by the CPUC’s Safety and Enforcement Division (“SED”), which, among other things, alleges that the Utility committed 27 violations in connection with 12 investigations of the 2017 Northern California wildfires (specifically, the Adobe, Atlas, Cascade, Norrbom, Nuns, Oakmont/Pythian, Partrick, Pocket, Point, Potter/Redwood, Sulphur and Youngs fires). As described in the OII, the 27 alleged violations include failure to maintain vegetation clearances, failure to identify and abate hazardous trees, improper record keeping, incomplete patrol prior to re-energizing a circuit, failure to retain evidence and failure to report an incident. No violations were identified by SED in connection with the Cherokee, La Porte and Tubbs fires. The 37 fire was determined by SED to not be a reportable incident. The SED report also alleges that the Youngs fire (which the Utility has previously referred to as the Maacama fire) and the Point fire, whose determinations of cause have not been publicly made by the California Department of Forestry and Fire Protection (“Cal Fire”), were caused by vegetation coming into contact with overhead conductors owned by the Utility. The SED report does not address the Lobo and McCourtney fires because Cal Fire referred its investigations into these fires to local law enforcement and the information contained in its investigation reports related to these fires remains confidential.The OII also indicates that “[i]n the course of its investigations, SED identified various matters of concern that […] warrant further investigation and possible charges for violations of law.” These matters include the following: (i) the Utility’s vegetation management procedures and practices, (ii) the Utility’s procedures and practices regarding use of “recloser” devices in fire risk areas and during fire season, (iii) the Utility’s lack of procedures or policies for proactive de-energization of power lines during times of extreme fire danger, and (iv) the Utility’s record-keeping and other practices.The 2017 Northern California Wildfires OII requires the Utility to (i) show cause by July 29, 2019 why it should not be sanctioned for the 27 violations alleged in the SED report and (ii) submit a report by August 5, 2019, responding to information requests relating to the Utility’s policies and practices and other wildfire-related matters. The Utility is also required to take certain corrective actions within 30 days of the issuance of the 2017 Northern California Wildfires OII, including filing an application to develop an open source, publicly available asset management system/database and mobile app, the costs of which will be at shareholder expense.The OII also indicates that the assigned commissioner shall set a prehearing conference for 45 to 60 days after the initiation of the proceeding or as soon as practicable after the CPUC makes the assignment. The assigned commissioner will also issue a scoping memo setting forth the scope of the proceeding and establishing a procedural schedule.PG&E Corporation and the Utility are unable to predict the outcome of the CPUC’s investigation. PG&E Corporation’s and the Utility’s financial condition, results of operations, liquidity and cash flows could be materially affected if the Utility were required to pay a material amount of penalties or if the Utility were required to incur a material amount of costs that it cannot recover through rates.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
3,141
|
On August 25, 2017, buildings and equipment located at our South Texas Properties were damaged by Hurricane Harvey which made landfall as a Category 4 hurricane. On June 28, 2018, we agreed to a global settlement with our insurance carriers in the amount of$15.4 million. As of June 30, 2018, we had received payments totaling$8.2 millionand the remaining$7.2 millionhas been recorded as an insurance receivable on our Consolidated Balance Sheet as of June 30, 2018, which represents a non-cash change within our Consolidated Statement of Cash Flows related to our insurance receivable. As of the date of this Report, we have received payment for the full settlement amount.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
1,467
|
A decrease of $4 million in emergency restoration cost due to higher storm activity in 2010, primarily the severe winter storms of February 2010. ACE incurred significant incremental storm restoration costs for repair work in the nine months ended September 30, 2011 following Hurricane Irene of $7 million but such costs were deferred as a regulatory asset to reflect the probable recovery of these storm costs.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
693
|
As discussed above, management also evaluates financial performance based on adjusted EPS. Duke Energy’s adjusted EPS was $2.41 for the six months ended June 30, 2021, compared to $2.22 for the six months ended June 30, 2020. The increase in adjusted EPS was primarily due to positive rate case contributions and other riders and retail margin, favorable weather and higher volumes, partially offset by the lower Commercial Renewables earnings, including Texas Storm Uri impacts, the loss of ACP earnings, higher income tax expense and share dilution from equity issuances.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,102
|
[1]Includes catastrophe losses from Hurricane Harvey and Hurricane Irma of $170 and $121, respectively.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,734
|
Depreciation and amortizationexpense increased$31.0 millionprimarily due to a depreciation rate change effective December 2017 as a result of the GRC and the following: (i) amortization of PTC regulatory liability of $7.6 million in 2018; (ii) electric depreciation expense increased $15.7 million, primarily due to net asset additions to production and distribution of $10.8 million and $173.7 million, respectively; (iii) an increase of $4.0 million due to net additions of $102.3 million of computer software; (iv) an increase of storm damage and regulatory amortization of $3.7 million and (v) an increase in natural gas environmental cost amortization of $2.2 million. These increases were partially offset by (i) conservation amortization decreased $1.7 million primarily due to a decrease of electric rate change of 0.8% annually effective May 1, 2018 and lower customer usage due to lower heating degree days in 2018 as compared to 2017 and (ii) a decrease in natural gas depreciation expense of $3.8 million primarily due to a depreciation rate change to a lower rate.
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Neutral
|
562
|
During the six months ended June 30, 2022, we spent $2.1 million for renovations on two businesses that were affected by Hurricane Ida, all of which was reimbursed by our property insurance.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
351
|
Item 2.02 Results of Operations and Financial ConditionOn November 5, 2018, PG&E Corporation will post on its website an earnings announcement disclosing its financial results and the financial results of its subsidiary, Pacific Gas and Electric Company (the “Utility”), for the quarter ended September 30, 2018. The earnings announcement is attached as Exhibit 99.1 to this report. PG&E Corporation also will hold a webcast conference call to discuss financial results and management’s business outlook. The earnings announcement contains information about how to access the webcast. The slide presentation, which includes supplemental information relating to PG&E Corporation and the Utility, will be used by management during the webcast and is attached as Exhibit 99.2 to this report. The Exhibits will be posted on PG&E Corporation’s website at http://investor.pgecorp.com.The information included in this Current Report on Form8-Kis being furnished, and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”).Item 7.01 Regulation FD DisclosureExhibitsThe information included in the Exhibits to this report is incorporated by reference in response to this Item 7.01, is being “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act.Public Dissemination of Certain InformationPG&E Corporation and the Utility routinely provide links to the Utility’s principal regulatory proceedings before the California Public Utilities Commission (“CPUC”) and the Federal Energy Regulatory Commission (“FERC”) at http://investor.pgecorp.com, under the “Regulatory Filings” tab, so that such filings are available to investors upon filing with the relevant agency. PG&E Corporation and the Utility also routinely post or provide direct links to presentations, documents, and other information that may be of interest to investors at http://investor.pgecorp.com, under the “News & Events: Events & Presentations” tab and links to certain documents and information related to the Northern California wildfires and the Butte fire which may be of interest to investors, at http://investor.pgecorp.com, under the “Wildfire Updates” tab, in order to publicly disseminate such information. It is possible that any of these filings or information included therein could be deemed to be material information. The information contained on such website is not part of this or any other report that PG&E Corporation or the Utility files with, or furnishes to, the Securities and Exchange Commission.Item 9.01 Financial Statements and ExhibitsExhibitsThe following Exhibits are being furnished, and are not deemed to be filed:Exhibit 99.1PG&E Corporation earnings announcement dated November 5, 2018Exhibit 99.2Slide presentation relating to webcast conference callSIGNATURESPursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.PG&E CORPORATIONBy:/s/ David S. ThomasonDated: November 5, 2018David S. ThomasonVice President and ControllerPACIFIC GAS AND ELECTRIC COMPANYBy:/s/ David S. ThomasonDated: November 5, 2018David S. ThomasonVice President, Chief Financial Officer and Controller
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Neutral
|
3,300
|
Although the Utility’s analysis is ongoing regarding the fires that were the subject of the June 8, 2018 and May 25, 2018 CAL FIRE news releases:
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Neutral
|
702
|
In March 2009, the Company filed with the Mississippi PSC its final accounting of the restoration costs relating to Hurricane Katrina and the storm operations center. On August 4, 2011, the Mississippi PSC issued an order approving the filing. The final net retail receivable of $3.2 million was recovered on October 21, 2011.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
2,364
|
In addition, the Company received an additional advance payment of $4.6 million in May 2012 under its insurance policies in connection with the flooding of its contract manufacturer in Thailand in October 2011. The Company has now received a total of $10.9 million in advance payments under its property and business interruption policies, and anticipates substantial additional payments under these policies in the second half of calendar 2012, although the Company cannot provide any assurance as to the exact timing and amounts of any such additional payments.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
3,046
|
We also incurred $1.4 million of additional unanticipated costs resulting from factors related to our operations in the fourth quarter. We have not adjusted our adjusted consolidated operating margin metric for these items, as they may be recurring. These items resulted from an increase in the run rate of normal scrap, adjustments to reserves for medical plans, product mix, increased warranty expense related to themid-yearnew product introductions and higher than expected temporary labor to support significantly increased demand. We expect a portion of the normal scrap increases to impact 2018 periods until we can work through the manufacturing process issues. We also expect additional costs related to our temporary workforce in each quarter of 2018.On a consolidated basis, we also incurred restructuring charges and acquisition and finance-related expenses as set forth below under “Preliminary Estimates ofNon-GAAPMeasures.” Consolidated interest expense for the year ended December 30, 2017 is expected to be in the range of $3.7 million to $3.8 million.Effective tax rate for the twelve months ended December 30, 2017, is expected to be in the range of 32.5% to 33.5%. As a result of the recently passed U.S. federal tax reform legislation (Tax Cuts and Jobs Act of 2017), this tax rate reflects aone-timetax expense of $0.6 to $0.8 million resulting from a $2 million expense from transition tax for deemed repatriation ofnon-U.S.earnings which is offset by a $1.4 million tax benefit derived from the revaluation of Sun’s net deferred tax liability at the new lower federal tax rate for 2018 of 24.5% to 26.5%. ASC 740 requires us to recognize the effect of the tax law changes in the period of enactment. However, the SEC staff issued SAB 118 which will allow us to record provisional amounts during a measurement period which is similar to the measurement period used when accounting for business combinations. We will continue to assess the impact of the recently enacted tax law on our business and our consolidated financial statements.The following is a reconciliation of GAAP operating income to non-GAAP adjusted consolidated operating income ($ in millions):The following is a reconciliation of GAAP operating income tonon-GAAPadjusted consolidated operating income ($ in millions):2017 Preliminary EstimatesNet sales$341.5 - 343.5GAAP Operating income$61.0 - 61.7Acquisition-related amortization of intangibles8.4 - 8.5Acquisition-related amortization of inventorystep-up1.8Acquisition and financing-related expenses1.2(1)Restructuring charges1.5(2)One-timeoperational items2.9(3)Non-GAAPAdjusted consolidated operating income$76.8 - 77.4GAAP Operating margin17.8 - 18.0%Non-GAAPAdjusted consolidated operating margin22.4 - 22.6%(1)Includes expenses associated with the Company’s acquisition and financing activities to support its strategy(2)Includes charges to consolidate the Company’s High Country Tek business into its Enovation Controls business(3)Includes standard costing adjustments; temporary workforce, material outsourcing, and freight charges to recover from impact of Hurricane Irma; scrap and inventory issues attributable to thecarve-outof Enovation Controls from its former organization; all 2017 preliminary estimates items deemed to beone-timein the fourth quarterThe following is a reconciliation of GAAP net income tonon-GAAPadjusted net income ($ in millions):2017 Preliminary EstimatesGAAP Net income$29.8 - 30.9Acquisition-related amortization of inventorystep-up1.8Acquisition and financing-related expenses1.2(1)Restructuring charges1.5(2)One-timeoperational items2.9(3)Change in fair value of contingent consideration9.5Tax effect(5.5 - 5.7)Impact of tax reform0.6 - 0.8Non-GAAPAdjusted net income$41.7 - 42.8GAAP Net income per diluted share$1.10 - 1.14Non-GAAPAdjusted net income per diluted share$1.54 - 1.58(1)Includes expenses associated with the Company’s acquisition and financing activities to support its strategy(2)Includes charges to consolidate the Company’s High Country Tek business into its Enovation Controls business(3)Includes standard costing adjustments; temporary workforce, material outsourcing, and freight charges to recover from impact of Hurricane Irma; scrap and inventory issues attributable to thecarve-outof Enovation Controls from its former organization; all 2017 preliminary estimates items deemed to beone-timein the fourth quarterThe following is a reconciliation of GAAP net income tonon-GAAPadjusted EBITDA ($ in millions):2017 Preliminary EstimatesNet sales$341.5 - 343.5Net income$29.8 - 30.9Net interest expense (income)3.7 - 3.8Income taxes16.1 - 16.6Depreciation and amortization19.1 - 19.3EBITDA69.9 - 70.6Acquisition-related amortization of inventorystep-up1.8Acquisition and financing-related expenses1.2(1)Restructuring charges1.5(2)One-timeoperational items2.9(3)Change in fair value of contingent consideration9.5Adjusted EBITDA$86.9 - 87.6Adjusted EBITDA margin25.5 - 26.0%(1)Includes expenses associated with the Company’s acquisition and financing activities to support its strategy(2)Includes charges to consolidate the Company’s High Country Tek business into its Enovation Controls business(3)Includes standard costing adjustments; temporary workforce, material outsourcing, and freight charges to recover from impact of Hurricane Irma; scrap and inventory issues attributable to thecarve-outof Enovation Controls from its former organization; all 2017 preliminary estimates items deemed to beone-timein the fourth quarterAdjusted consolidated operating income, adjusted consolidated operating margin, adjusted net income and adjusted EBITDA are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP. Nevertheless, Sun Hydraulics believes that providingnon-GAAPinformation such as adjusted consolidated operating income, adjusted consolidated operating margin, adjusted net income and adjusted EBITDA are important for investors and other readers of Sun Hydraulics’ financial statements, as they are used as analytical indicators by Sun Hydraulics’ management to better understand operating performance. Because adjusted consolidated operating income, adjusted consolidated operating margin, adjusted net income and adjusted EBITDA arenon-GAAPmeasures and are thus susceptible to varying calculations, adjusted consolidated operating income, adjusted consolidated operating margin, adjusted net income and adjusted EBITDA, as presented, may not be directly comparable to other similarly titled measures used by other companies.Update Regarding Our Acquisition Strategy.We are currently actively pursuing a number of opportunities to grow our business in both the Hydraulics and the Electronics segments in accordance with our Vision 2025 plan. In seeking to achieve global technology leadership in the industrial goods sector by 2025 with critical mass exceeding $1 billion in sales while maintaining superior profitability and financial strength, we intend to acquire companies with similar demonstrated profitability and financial strength. In the ordinary course of our business, we continuously seek acquisition targets thatcan accelerate our growth, operate on a stand-alone basis within our overall corporate vision, and are accretive to our financial results. We believe there are significant opportunities for such acquisitions in the near term and are exploring several of them aggressively. Some of the acquisitions we are actively pursuing would constitute “significant” acquisitions, potentially at the 50% threshold as defined by the SEC’s RegulationS-X.If concluded as such, these “significant” acquisitions would have a material effect on our results of operations and financial condition.Our “pipeline” of potential transactions is comprised of more than 50 companies, including companies in the Hydraulics segment and Electronics segment based in the EMEA and Asia Pacific regions, which would further our goal to diversify our manufacturing base and place production facilities closer to customers. For purposes of this Form8-K,“pipeline” refers to opportunities or potential opportunities in the market for companies within our strategic profile that we have identified as targets to add to our critical mass in the Hydraulics and Electronics segments. The pipeline may also include other businesses that we consider “linked technologies.” The more attractive target companies in our pipeline have revenues of $50 million to $150 million with operating margins in excess of 20%. For companies that meet these financial and strategic profile objectives, we believe valuations in the current market customarily range from thelow-tomid-teensfrom an EBITDA perspective. Any liabilities assumed in connection with the acquisitions in our pipeline could reduce the purchase price based on our valuation of such liabilities (which valuation is subject to our judgment and could differ from actual experience). In addition, there are a number of factors that impact purchase price as described below and, as a result, the actual purchase price for these acquisitions, to the extent consummated, may fall outside this customary range. For certain companies in our pipeline of potential transactions, we have contacted the seller or its representative to register our interest, or are currently engaged in discussions or negotiations directly with the seller or its representative.The status of pipeline opportunities varies from early stage contact through varying levels of due diligence and negotiation. We have not entered into any letters of intent with exclusivity provisions as of the date of this Form8-Kbut are engaged in advanced discussions for one potential “significant” acquisition, constituting one of the larger targets in our pipeline, and discussions for several other potential transactions that are in the early stages. One or more of these potential acquisitions could be signed in the near future and closed as soon as the second quarter of 2018. There can be no assurance, however, that any particular opportunity in our pipeline will result in an acquisition by the Company.If successful in the pursuit of our pipeline opportunities, we intend to use available cash, including the proceeds of this offering, in addition to future debt and/or equity financings, any of which may change our leverage profile. There are a number of factors that impact our successful consummation of these acquisitions, including available financing, competition, sometimes from larger competitors, and the potential risks inherent in assessing the value, strengths, weaknesses, contingent or other liabilities, and potential profitability of acquisition candidates, and in integrating the acquired companies. If our assessments, including the financial evaluation, of the target companies prove to be inaccurate, we could overpay, achieve fewer potential synergies, and incur additional future costs for one or more of the potential transactions. Our expectation is that, to the extent we are successful, any acquisition will be accretive to our business and be consistent with our existing strategic plan. However, these new acquisitions involve a number of risks and may not achieve our expectations; and therefore we could be adversely affected by anysuch acquisitions. We are not party to any definitive agreements in respect of such acquisition targets as of the date of this Form8-K,and we cannot assure you that we will become a party to such definitive agreements, or that if we do become a party to such agreements that we will be able to close on the transactions and acquire the target companies.Impact of 2017, Tax Cuts and Jobs Act.On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act, or the TCJA, which significantly reforms the Internal Revenue Code of 1986, as amended, or the Code. The TCJA, among other things, includes changes to U.S. federal tax rates, imposes significant additional limitations on the deductibility of interest, allows for the expensing of capital expenditures, and puts into effect the migration from a “worldwide” system of taxation to a quasi-territorial system. The TCJA will result in aone-timetax expense of $0.6 million to $0.8 million resulting from a $2 million expense from transition tax for deemed repatriation ofnon-U.S.earnings. This will be offset by a $1.4 million tax benefit derived from the revaluation of Sun’s net deferred tax liability at the new lower federal tax rate for 2018 of 24.5% to 26.5%. We continue to examine the impact that the TCJA may have on our business.Item 9.01Financial Statements and Exhibits(d)Exhibits99.1Press release dated January 29, 201899.2Press release dated January 29, 2018SIGNATUREPursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.SUN HYDRAULICS CORPORATIONBy:/s/ Tricia L. FultonTricia L. FultonChief Financial Officer (PrincipalFinancial and Accounting Officer)Dated: January 29, 2018
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,522
|
This current report and its exhibits include forward-looking statements. Edison International and Southern California Edison Company ("SCE") based these forward-looking statements on their current expectations and projections about future events in light of their knowledge of facts as of the date of this current report and their assumptions about future circumstances. These forward-looking statements are subject to various risks and uncertainties that may be outside the control of Edison International and SCE. Edison International and SCE have no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events, or otherwise. This current report should be read with Edison International's and SCE's combined Annual Report on -K for the year ended December 31, 2020 and subsequent Quarterly Reports on -Q. Additionally, Edison International and SCE provide direct links to EIX and SCE presentations, documents and other information at www.edisoninvestor.com (Presentations) in order to publicly disseminate such information.Item 2.02Results of Operations and Financial ConditionOn November 2, 2021, Edison International issued a press release reporting its financial results and the financial results for its subsidiary, Southern California Edison Company, for the quarter ended September 30, 2021. A copy of the press release is attached as Exhibit 99.1. The frequently asked questions document referenced in the press release is attached as Exhibit 99.2.Also on November 2, 2021, members of Edison International's management will speak to investors via a financial teleconference. Senior management's prepared remarks and accompanying presentation are attached as Exhibit 99.3 and Exhibit 99.4 to this report.The information furnished in this Item 2.02 and Exhibits 99.1, 99.2, 99.3, and 99.4 shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933.Item 7.01Regulation FD DisclosureMembers of Edison International management will use the information in the presentation furnished as Exhibit 99.4 to this report in meetings with institutional investors and analysts and at investor conferences. The attached presentation will also be posted onwww.edisoninvestor.com.Item 9.01Financial Statements and Exhibits(d)ExhibitsEXHIBIT INDEXExhibit No.Description99.1Edison International Press Release dated November 2, 202199.2FAQ Regarding Revised Best Estimate of Expected Losses Associated with the 2017/2018 Wildfire/Mudslide Events and SED Agreement99.3Edison International Q3 2021 Financial Results Conference Call Prepared Remarks dated November 2, 202199.4Edison International Q3 2021 Financial Results Conference Call Presentation dated November 2, 2021104Cover Page Interactive Data File (embedded within the Inline XBRL document)
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Negative
|
2,007
|
•an increase of $709.7 million in storm spending 2020, primarily due to Hurricane Laura, Hurricane Delta, and Hurricane Zeta restoration efforts, See “Hurricane Laura, Hurricane Delta, and Hurricane Zeta” above for discussion of storm restoration efforts;
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
950
|
Group 1 Automotive, Inc.__________________________________________(Exact name of registrant as specified in its charter)Delaware1-1346176-0506313_____________________(State or other jurisdiction_____________(Commission______________(I.R.S. Employerof incorporation)File Number)Identification No.)800 Gessner, Suite 500, Houston, Texas77024_________________________________(Address of principal executive offices)___________(Zip Code)Registrant’s telephone number, including area code:713-647-5700Not Applicable______________________________________________Former name or former address, if changed since last reportCheck the appropriate box below if the -K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))Top of the FormItem 8.01 Other Events.On November 1, 2012, Group 1 Automotive, Inc. announced that it is assessing damage at 24 of its East Coast dealerships in the aftermath of Hurricane Sandy. A copy of the press release is attached hereto as Exhibit 99.1.Item 9.01 Financial Statements and Exhibits.99.1 Press Release of Group 1 Automotive, Inc., dated as of November 1, 2012.Top of the FormSIGNATURESPursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.Group 1 Automotive, Inc.November 2, 2012By:/s/Darryl M. BurmanName: Darryl M. BurmanTitle: Vice PresidentTop of the FormExhibit IndexExhibit No.Description99.1Press release of Group 1 Automotive, Inc. dated as of November 1, 2012.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
115
|
Table of ContentsItem 3.02 Unregistered Sales of Equity Securities.The information set forth above in “Item 1.01 — Entry into a Material Definitive Agreement” is incorporated herein by reference. The issuance by the Company of common stock constituting a portion of the total consideration pursuant to the Purchase Agreement will be made in reliance upon the exemption from securities registration afforded by Section 4(2) of the Securities Act of 1933, as amended, or another applicable exemption.Item 7.01. Regulation FD Disclosure.On November 26, 2012, the Company issued a press release announcing the Archstone Portfolio Acquisition. A copy of the Company’s press release is furnished as Exhibit 99.1 and is incorporated herein by reference.The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such filing.Item 8.01 Other EventsFinancial Highlights and OutlookOperating Results and Outlook.Between January 1, 2012, and September 30, 2012, our portfolio of established communities achieved an increase in NOI of 8.1% compared to the same period of 2011. Throughout 2012, apartment fundamentals have remained strong, driven by a combination of a decline in the homeownership rate, modest employment growth and limited supply of new multifamily rental product. For the nine months ended September 30, 2012, our established apartment communities achieved an increase in rental revenue of 6.0% as compared to the prior year period, primarily from an increase of 5.8% in average rental rates and a 0.2% improvement in economic occupancy, as we have historically defined that term. On October 24, 2012 we updated our guidance for full year 2012 earnings per share — diluted, or EPS, to be in the range of $4.47 and $4.52, and Funds from Operations — diluted, or FFO, to be in the range of $5.45 to $5.50. FFO is a non-GAAP financial measure. For a description of how we define FFO and a reconciliation of FFO to net income, please see ‘‘Reconciliation of Non-GAAP Financial Measures’’ beginning on page F-18 of this report.On November 12, 2012, we issued a press release regarding the financial impact of Hurricane Sandy to us, in which we estimated the out-of-pocket costs to repair damages to be in the range of $5.0 to $7.0 million after considering insurance reimbursements. We now estimate that the aggregate out-of-pocket costs to repair damages associated with Hurricane Sandy will be in the range of $3.5 to $5.0 million, after considering insurance reimbursements. A portion of these out-of-pocket costs will be capitalized, such that we expect the impact of these costs on reported earnings to be between $1.0 and $1.5 million, with the majority of the costs expected to be incurred during the fourth quarter of 2012.Current Operating Environment. We anticipate market fundamentals impacting our business to remain favorable for the remainder of 2012 and into 2013. Our expectations are based in part on our outlook for employment conditions, where we anticipate moderate but accelerated job and population growth, particularly in the age groups that have historically demonstrated a higher propensity to rent. Our assessment of our portfolio’s potential performance for 2013 also considers the individual demand/supply characteristics of each submarket in which we operate. Over the past several years supply within the majority of our markets has been below long-term trend levels, although it is expected to increase closer to long-term levels over the next several years. We anticipate that the properties we expect to acquire as part of the Archstone Portfolio Acquisition will show operating trends in line with our established communities.Acquisition Capitalization Rate.As part of our due diligence process, we analyzed the anticipated capitalization rate we expect to derive from the Archstone Portfolio Acquisition. We define capitalization rate as NOI as a percentage of the purchase price after making adjustments to historical NOI to reflect anticipated growth in rental rates, as well as reserves for capital expenditures, property management fees, and other market conventions to estimate future stabilized NOI. We believe that the weighted average capitalization rate for the combined Archstone portfolio, including properties to be acquired both by us and by Equity Residential, is in the high 4% range. Our definition of NOI and calculation of the capitalization rate may not be comparable with those of other REITs because of differences in accounting policies, forward adjustments to historical NOI, assumed property management fees, reserves and other items. We also caution you not to place undue reliance on our estimates of NOI13
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,333
|
Net operating earnings(1)for the second quarter of 2012 were $19.7 million, or $0.27 per diluted share compared with $11.2 million, or $0.15 per diluted share in the comparative quarter in 2011. Net income was $14.5 million, or $0.20 per diluted share compared with a net loss of $24.4 million or a loss of $0.34 per diluted share in the second quarter of 2011. In the comparative second quarter of 2011, Maiden's net income was impacted by a number of non-operating expenses, including charges related to the repurchase of junior subordinated debt with proceeds from the June 2011 Senior Notes offering. Second quarter 2011 results included $15.1 million of junior subordinated debt repurchase expenses and $20.3 million of accelerated amortization of subordinated debt discount and issuance costs. The comparative 2011 financial results were also impacted by $9.5 million in losses related to thunderstorm and tornado activity across the U.S. in the second quarter, net of the Company's quarterly provisions for normalized catastrophe activity.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
260
|
Individual and Other Wildfire Claims: The Reorganized Debtors will establish and fund one or more trusts (the “Other Wildfire Trust”) to administer, process, settle, pay and otherwise resolve prepetition wildfire-related claims that are not Public Entities Wildfire Claims or Subrogation Wildfire Claims (“Other Wildfire Claims”). The Other Wildfire Trust will be funded with (a) cash, (b) wildfire victims recovery property created pursuant to the Wildfire Victim Recovery Bonds, or other securitized bonds, and the proceeds of such bonds (if applicable), (c) new shares of common stock to be issued by Reorganized PG&E Corporation, or (d) mandatory convertible preferred stock to be issued by the Reorganized PG&E Corporation under the Proposed Plan (if applicable) (or any combination of the foregoing), with such funds having an aggregate value equal to an amount to be estimated pursuant to the wildfire claim estimation proceedings. Other Wildfire Claims will be assumed by the Other Wildfire Trust and must be satisfied solely from the Other Wildfire Trust, and the holders of such claims will receive payment as determined in accordance with the resolution and payment procedures of the Other Wildfire Trust. It is a condition precedent to the occurrence of the Effective Date that the Debtors’ aggregate liability with respect to Other Wildfire Claims does not exceed the Other Wildfire Claims Cap (as defined herein).
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
1,912
|
(1)During 2015, we recognized an impairment on depreciable real estate of$4,195from the severe winter storms that occurred in our Northeast markets. During 2016, we received insurance proceeds, net of additional costs incurred, of$5,732related to the winter storms, and recognized $4,195 of this recovery as an offset to the loss recognized in the prior year period. The balance of the net insurance proceeds received in 2016 of $1,537 is recognized as a casualty gain and is included in the reconciliation of FFO to Core FFO.
| 1
| 1
| 0
|
```json
{
"asset": 1,
"economic_flows": 1,
"none": 0
}
```
|
Reimbursement
|
2,237
|
Our total Same Store revenues from new vehicle retail sales increased 0.2% for the year ended December 31, 2017, as compared to the same period in 2016, driven by increases in the U.S. and Brazil that were partially offset by a decline in the U.K. The 0.4% increase in U.S. Same Store new vehicle revenue was primarily due to a 2.1% increase in average retail sales price to $37,483, which was partially offset by the decline in new vehicle retail units of 1.7% noted above. The increase in our U.S. Same Store average retail sales price for the year ended December 31, 2017 was primarily a result of our operating team’s focus on improving new vehicle margins noted above and a mix shift in sales from cars to trucks, which was driven by continued relatively low gas prices, as well as an increase in the demand for trucks in the hurricane impacted markets of the U.S. during the second half of 2017. U.S. new vehicle retail truck sales represented 61.0% of total Same Store new vehicle retail units sold for the year ended December 31, 2017, as compared to 56.9% for the same period last year. Our Brazil Same Store new vehicle revenues increased 6.0%, which was more than explained by the change in the exchange rate between periods. On a constant currency basis, our Brazil Same Store new vehicle revenues declined 2.2%, as a 5.0% increase in the average retail sales price was more than offset by the 6.8% decline in new vehicle retail units noted above. The increases in total Same Store new vehicle retail revenues in the U.S. and Brazil were partially offset by a 2.5% decline in our U.K. Same Store new vehicle revenues for the twelve months ended December 31, 2017 as compared to 2016. The increase of 1.1% in new vehicle retail unit sales in the U.K. was more than offset by the deterioration in the average new vehicle sales price of 3.6%. This decline is more than explained by the change in exchange rates between periods as on a constant currency basis, new vehicle revenue per retail unit increased 1.1% when compared to the same period a year ago.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Positive
|
1,098
|
The effective tax rates for the three and nine months ended September 30, 2011 were 32.4 percent and 30.4 percent, respectively. The company estimates that the tax rate for full year of 2011 will be slightly higher than the first nine months of 2011. The effective tax rates for the three and nine months ended September 30, 2010 were 30.5 percent and 28.0 percent, respectively excluding a discrete $13.3 million tax benefit related to the $34.2 million charge for flood related expenses in the three months ended June 30, 2010. The increase in the effective rates for 2011 was due to proportionately higher domestic earnings which are taxed at higher rates. The full year effective tax rate in 2010 of 23.3 percent resulted from lower domestic earnings as a result of flood related expense.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,544
|
The Rating Agencies have also initiated credit ratings actions that have negatively impacted SDG&E’s ratings, with such recent actions primarily the result of the Rating Agencies’ assessments of the increased risk of wildfires in California, the current California regulatory environment, recent wildfires in California and the possible inability to recover costs and expenses in cases where California investor-owned utilities, like SDG&E, are determined to have had their equipment be the cause of a fire.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
2,002
|
Winter Storm Impact Update
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Neutral
|
3,417
|
Prior-year reserve development – Our underwriting results in 2006 included favorable prior-year reserve development of $15.7 due to lower-than-expected severity. Our underwriting results in 2005 included favorable prior-year reserve development of $11.0, including unfavorable prior-year reserve development of $10.5 in our estimates of the 2004 hurricanes in Florida and surrounding states. The favorable prior-year reserve development in 2005 reflected better-than-expected experience in our estimates of loss costs, primarily for accident years 2003 and 2004. Our underwriting results in 2004 included favorable prior-year reserve development of $47.5, primarily driven by changes in contract terms resulting in lower-than-expected frequency. The change in reserve development in 2006 decreased the combined ratio by 0.5 points compared with 2005. The change in reserve development in 2005 increased the combined ratio by 4.0 points compared with 2004.
| 0
| 1
| 0
|
```json
{
"asset": 0,
"economic_flows": 1,
"none": 0
}
```
|
Negative
|
780
|
On September 5, 2012, Saratoga Resources, Inc. issued a press release providing an update on operations following Hurricane Isaac. A copy of the press release is attached hereto as Exhibit 99.1.
| 0
| 0
| 1
|
```json
{
"asset": 0,
"economic_flows": 0,
"none": 1
}
```
|
Neutral
|
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